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Sometimes, transactions do not close. When a transaction won't be completed, what should a salesperson try to do as soon as possible?

A.

Conduct an analysis of why the transaction will not be carried out.

B.

Pass the transaction to the broker of record so that the broker will take care of it.

C.

Obtain the remuneration owed.

D.

Terminate the transaction and disengage from it.

When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

A.

The farm is sold to a corporation and the HST is included in the selling price.

B.

The farm has been used for personal use.

C.

The farmer uses a smaller portion of the farm for a residence.

D.

The farmer sells the farm to a relative.

Which of the following statements regarding heavy industrial use and light industrial use is correct?

A.

Clay production is an example of light industrial use.

B.

Light industrial use usually results in more noise and heavier traffic.

C.

Heavy industrial use can produce more pollution than other commercial activities.

D.

Heavy industrial use usually results in less traffic in and out of the heavy industrial zone.

Finish the sentence: When a commercial tenant enters an agreement to lease, the covenant to pay rent specifies that the tenant:

A.

Agrees to pay additional rent for a gross lease.

B.

Cannot withhold rental payments even if the landlord does not comply with their obligations under the lease.

C.

Agrees to pay any percentage rent a landlord demands, regardless of sales revenue.

D.

Cannot pay rent to the property manager and must pay directly to the property owner.

A buyer client is interested in purchasing an industrial property for their manufacturing business. The buyer's salesperson informs them of the building criteria, along with the minimum requirements for clear height and clear span that would be suitable for the buyer's business. What should the salesperson explain to the buyer regarding clear span?

A.

The salesperson should explain that clear span refers to the amount of floor area that is clear of interference from columns and walls.

B.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the lowest ceiling or roof component.

C.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the highest point of the ceiling or roof component.

D.

The salesperson should explain that clear span refers to the total amount of floor area in the space, including the space that is occupied between columns and walls.

An office building is being sold. The agreement of purchase and sale includes multiple conditions that protect the buyer. Each condition has a different expiry date, and they will be fulfilled and completed at different times. The conditions do not have waiver provisions. In this situation, all conditions can be removed by:

A.

Serving separate waivers

B.

Serving one waiver

C.

Serving separate notices of fulfillment

D.

Serving one notice of fulfillment